Angola: IMF Concludes 2003 Article IV Consultation with Angola: 2003 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Angola

International Monetary Fund

No 2003/291, IMF Staff Country Reports from International Monetary Fund

Abstract: The ending of the civil war has brought to the fore the need to reconstruct the Angolan economy and address the problem of widespread poverty. A strong medium-term fiscal adjustment effort, including a reduction of the National Bank of Angola's operational deficit, is needed. The government should pursue a much more prudent foreign borrowing policy to avoid a worsening of the external debt burden. A tighter macroeconomic policy accompanied by a decisive structural reform is needed to foster economic diversification, create employment opportunities, and increase productivity.

Keywords: authorities' support; support to the peace process; government equivalent; authorities' effort; president of the republic; Government debt management; Oil sector; Budget planning and preparation; Africa; IMF resident Representative; State oil revenue; inflation rate; Policy discussion; national bank of Angola; International reserves; Southern Africa (search for similar items in EconPapers)
Pages: 64
Date: 2003-09-10
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